Rich Dad Poor Dad
Renowned author Robert Kiyosaki, best known for his influential book “Rich Dad Poor Dad” published in 1997, recently shocked his Instagram followers by revealing that he finds himself entangled in a staggering $1.2 billion worth of debt.
At 76 years old, Kiyosaki disclosed this financial turmoil in a candid Instagram reel, acknowledging that he employed an unconventional approach to distinguish between assets and liabilities. As part of his strategy, he opted to relinquish luxury vehicles like Rolls-Royce and Ferrari.
Despite this setback, Kiyosaki hasn’t completely abandoned the principles he advocated for years. He emphasized the importance of creating wealth with minimal personal liability, stating that if he faces financial ruin, it would be the bank’s problem, not his. In the video, he classified debt into good and bad categories, emphasizing the value of assets that can be converted into cash, including Bitcoin, silver, Wagyu cattle, and gold.
Kiyosaki has long been an advocate for investments like gold and silver, highlighting their enduring value at the Vancouver Resource Investment Conference in 2022. Notably, he previously owned a silver mine in Argentina, which he later sold to the Canadian mining company Yamana Gold.
Despite acknowledging the challenges inherent in the gold mining business, describing it as a “tough business” with higher risk, Kiyosaki continues to prioritize investments that align with his wealth-building philosophy.
This revelation about Kiyosaki’s substantial debt underscores the unpredictable nature of financial circumstances, even for individuals celebrated for their expertise in wealth creation and management. The disclosure serves as a reminder of the complexities and challenges that can accompany financial success and the need for adaptability in navigating economic landscapes.